Question about transferring shares

LeaningTower

I transferred shares from broker A to broker B last week. When I downloaded the transactions into Quicken (Classic Premier ver. R62.16), Broker A coded the transaction as "SOLD" and Broker B coded the transaction as "ADDED"

Instead of accepting those transactions, I entered it manually as SHARES TRANSFERRED in the Broker A's register, which resulted in one REMOVED transaction in Broker A's register and two ADDED transactions in Broker B's register (accurately reflecting the two purchases that I originally made at Broker A).

It seemed to work fine; however, in Broker B's register the Cash Balance column increased by the value of the shares. For example, if the current value of the shares is $115,000, the Cash Balance of the account register increased by $115,000. Upon closer inspection, in the HOLDINGS window for Broker B, the newly transferred shares balance is negative 115000 shares

Any suggestions what I might've done wrong (if anything) and/or how to fix this?

Quicken Jasmine

Hello @LeaningTower,

Thanks for reaching out!

I think that I may have an idea as to why this occurred. When you manually removed the shares from Broker A using a "Shares Transferred Between Accounts" transaction, Quicken correctly created "Removed" entries in Broker A and "Added" entries in Broker B. However, if Quicken also downloaded "Added" transactions from Broker B and you accepted those without deleting or matching them to the manual entries, it may have duplicated the share additions. In some cases, if the downloaded "Added" transactions include a cost basis or value, Quicken interprets it as a cash purchase, which can inflate your cash balance and throw off the share count.

1. Go to Broker B’s account register.
2. Look for any duplicate “Added” transactions for the transferred shares—especially ones that include a cost or amount field.
3. If they were created manually via the transfer, delete the downloaded duplicates.
   • If you're unsure which are which, the ones created by the transfer will not have a downloaded transaction ID.
4. After removing the duplicates, verify that
   • Your share quantity is correct
   • Your cost basis and market value match
   • The cash balance returns to what it should be

If Broker B continues to send “Added” transactions in the future, you can match them manually to the correct entries instead of accepting them as new—or just delete them and let your manual transfers stand.

Let me know if you're still seeing issues after this, or feel free to share a screenshot (with sensitive info blurred) if you'd like me to take a closer look.